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During its first year of operations, Skysong Corporation had the following transactions pertaining to its common stock. Jan 10 Issued 84,500 shares for cash
During its first year of operations, Skysong Corporation had the following transactions pertaining to its common stock. Jan 10 Issued 84,500 shares for cash at $6 per share. Mar 1 July 1 Sept. 1 Issued 5,000 shares to attorneys in payment of a bill for $35,300 for services rendered in helping the company to incorporate Issued 32.200 shares for cash at $8 per share. Issued 63,700 shares for cash at $10 per share. Your answer is correct Prepare the journal entries for these transactions, assuming that the common stock has a par value of $5 per share. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record entries in the order displayed in the problem statement) Date Account Titles and Explanation Debit Credit Date Account Titles and Explanation Debit Jan. 10 Cash Common Stock Paid-in Capital in Excess of Par-Common Stock Mar 1 Organization Expense Common Stock 507000 35300 Credit 422500 84500 25000 Paid-in Capital in Excess of Par-Common Stock 10300 257600 Common Stock 161000 July 1 Cash Paid-in Capital in Excess of Par-Common Stock Sept 1 Cash Common Stock Paid-in Capital in Excess of Par-Common Stock 637000 96600 318500 318500 mano astry equined select "No Entry for the account titles and enter for the amounts Wecond entries in the order displayet Is the problems stat Date Account Titles and Explanation Jan. 10 < > Mar July Sept List of Accounts Debit Credit
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